[Updated] Duke Realty May Sell $3 Billion Medical Office Portfolio

The Indianapolis, Indiana-based real estate investment trust (REIT) is working with investment bank Morgan Stanley to sell its medical office building portfolio, which could be worth up to $3 billion, the people said.

So far, the medical office portfolio has piqued the interest of health care-focused REITs, but there is no certainty the ongoing sales process will lead to a deal, the people added.

Duke Realty declined to comment on the matter to Medical Office News.

If the rumors are true, it makes sense that Duke Realty is considering a sale now, according to Revista Principal Mike Hargrave.

“MOB prices right now are really at an all-time high in terms of valuations,” Hargrave told Medical Office News.